Post From Wealthwatch.world Chat Room Thurs Afternoon Part 1 of 2
OOTW: THANKS TO YOTA FOR THESE
OOTW: THESE ARE ALL THREE PRINT SCREENS TO SHOW IRAQ'S CREDIT RATING ASSOCIATED WITH THE BONDS LAUNCH AS OF YESTERDAY
OOTW: THE "GRADE" IS A "7"
OOTW: WHICH PUTS THEM AT AN A- I'M SURE MANY OF YOU HAVE SEEN THESE ALREADY BUT I WANTED TO POST THE PRINT SCREENS FOR ANYONE WHO HASN'T SEEN THESE
OOTW: ANYONE AWAKE?
chattels: ERBIL, Kurdistan Region – Islamic State fighters have destroyed Al Boshjal bridge connecting Fallujah city and Saqlawiyah town in order to halt the advance of Iraqi security forces, an official source from Anbar province police told Rudaw.
TxBrand: trying to find out what a 7 means
TxBrand: ic -----> OOTW: WHICH PUTS THEM AT AN A
disciple7: ‹@OOTW› so no triple A?
disciple7: ‹@OOTW› for the dummies like me in here, where does it say "grade 7" on those examples?
Dianne777: wish i understood what all this means for us
disciple7: ‹@Dianne777› yea some of this gets confusing for sure
quicktolegit96: WAS IRAQ GIVE A CREDIT RATING????
Dianne777: i admire all that put so much time into this to understand to share
Dianne777: ‹@disciple7› so is that good
quicktolegit96: A FOR SURE?
disciple7: ‹@Dianne777› better than a B :laughing:
disciple7: ‹@quicktolegit96› OOTW said its a grade "7" which is an A
disciple7: ‹@quicktolegit96› OOTW: THANKS TO YOTA FOR THESE OOTW: THESE ARE ALL THREE PRINT SCREENS TO SHOW IRAQ'S CREDIT RATING ASSOCIATED WITH THE BONDS LAUNCH AS OF YESTERDAY
THE "GRADE" IS A "7" OOTW: WHICH PUTS THEM AT AN A- I'M SURE MANY OF YOU HAVE SEEN THESE ALREADY BUT I WANTED TO POST THE PRINT SCREENS FOR ANYONE WHO HASN'T SEEN THESE
quicktolegit96: BAAAAAAAAAAAM AMEN
Dianne777: is this a baby step or big step for us
disciple7: ‹@Dianne777› imo at this point its all progress
disciple7: small or large just keeping moving
quicktolegit96: BIG STEP DIANNE
quicktolegit96: ROLL INTERNATIONAL BONDS, YAY
Dianne777: oh good hope of all hopes then
quicktolegit96: INTERNATIONAL BONDS CAN BE BOUGHT, TAKES 12-18 MONTHS TO MATURE....
quicktolegit96: PAID IN US DOLLARS OR DINAR, U CHOOSE LOL
disciple7: ‹@quicktolegit96› ‹@quicktolegit96› World Bank partners with Iraq to fund 2016 budget
disciple7: ‹@quicktolegit96› OOTW sent that in an email
quicktolegit96: I READ THAT, THIS IS ALL COMING TOGETHER
disciple7: ‹@quicktolegit96› yes sir it is
Dianne777: does that mean though that the they have until the maturity date to roll this thing out on the value of the dinar?
quicktolegit96: OOTW U DA BOMB SIS
quicktolegit96: DIANNE NO
OOTW: NO DIANNE NOT THAT I KNOW OF
quicktolegit96: OOTW, WHAT DO U FEEL IS THE NEXT STEP
quicktolegit96: RATING, BONDS, ?
OOTW: TY DISCIPLE AND DONNIE FOR YOUR REPOST OF MY POST - HERE IN CHAT
OOTW: SCZIN POSTED AN ARTICLE STATING THAT IRAQ WOULD BE PARTNERING WITH THE WORLD BANK FOR THEIR 2016 BUDGET NEEDS AND I AGREE WITH HIS ASSESSMENT,
WHICH IS, IT'S VERY INTERESTING WE GET THESE NEWS THAT DAY AFTER THEY LAUNCHED THEIR BONDS AND SUBSEQUENT "NEW" CREDIT RATING..
PRIVATE SECTOR DEVELOPMENT IS KEY HERE- THEY'RE DOING THIS TO HELP BOOST THE ECONOMY AND SUPPORT PRIVATE SECTOR DEVELOPMENT -IMHO, NEEDED IN ORDER TO WORK WITH WTO
quicktolegit96: OOTW I AGREE 100
quicktolegit96: THIS IS TO LAUNCH PRIAVATE SECTOR, WHAT EVERY ECONOMY THRIVES ON...BUT WHAT IS NEXT STEP? AN INCREASE IN IQD VALUE OR SOMETHING ELSE
Dianne777: and they have to change the value for the wto right?
quicktolegit96: DIANNE YES
OOTW: YEP QUICK..I AGREE WITH YOU (TOO) - ART'S CAME OUT STATING THEY'RE GOING TO LAUNCH THESE NEW 50K NOTES END OF MONTH (I'LL BELIEVE IT WHEN I SEE IT) –
AND AGAIN, THE LAST INFERENCE WE HAVE IS THAT THEY HAVE DOUBLE THE RESERVES TO BACK THE VALUE OF THE DINAR - SO THAT PUTS US AT 2/10 OF A CENT, WHAT THEY'LL REALLY DO..WE HAVE TO WAIT AND SEE
quicktolegit96: IT IS A PRE-REQUESITE FOR ACCENSSION
OOTW: WAIT A MINUTE
whitelions: ‹@OOTW› i ALSO AGREE
quicktolegit96: DIANNE, THERE IS A CHECKLIST TO BECOME FULL MEMBERS....VALUE IS ONE OF THEM
OOTW: THEY CAN LAUNCH THEIR CURRENCY AT CURRENT VALUE FROM ARTICLE 14 - REMEMBER OVER A WEEK AGO - KEYWORDS SAID THEY'RE TRYING TO WORK WITH THE IMF TO GET TO ART 8
OOTW: THERE ARE SEVERAL ART 14 COUNTRIES WHO HAVE CURRENCY VALUES, FOR CURRENCY WHICH IS INTERNATIONALLY RECOGNIZED AND TRADED WORTH .10CENTS OR LESS
quicktolegit96: SCHUCKS, ITS ART. 14'S FAULT LOL
OOTW: LOL- LET'S WAIT AND SEE IF THEY MOVE TO ART 8
Dianne777: so if they go in at art 14 it will be the same value and 8 will increase it?
quicktolegit96: OOTW, DO U FEEL THEY WILL CHANGE THEIR VALUE LOL
OOTW: QUICK, I'M HAPPY TO BE CORRECTED, BUT ALL OF THE COUNTRIES I'VE RESEARCHED AT THE IMF SITE, WHO HAVE RELEASED THEIR CURRENCIES TO THE INTERNATIONAL MARKET UNDER ART 14- THE HIGHEST VALUE OF ALL OF THEM IS TEN CENTS TO THE DOLLAR
quicktolegit96: OOTW, U ARE RIGHT, I REMEMBER THIS NOW
OOTW: IDK - ALL I CAN SAY IS.....SAUDI RIAL AT ABOUT .40 CENTS - SAUDI HAS A LIMIT ON HOW MUCH OIL THEY'RE ALLOWED TO PUMP VIA OPEC (LAST I LOOKED) AND IRAQ HAS NO LIMIT ON HOW MUCH THEY CAN PUMP
quicktolegit96: DIANNE, YES, ART 8 WILL HAVE AN INCREASE IN VALUE
quicktolegit96: IRAQ AND KUWAIT HAVE AN AGREEMENT ON THEIR PORTS FOR OIL...HAVING SAID THIS, KUWAIT IS OVER $3....SO IT IS MY HYPOTHESIS THAT IRAQ WILL BE WITHIN KUWAIT 20% EITHER WAY
Dianne777: well will be precise with the prayers then for art 8. thank you ootw
quicktolegit96: WITH NO CAP, THAT IS FUNTASTIC
OOTW: SURE DIANNE AND TY TO YOU
disciple7: I likey
Dianne777: any idea of how soon they might take a notion to want to do this? lol
quicktolegit96: DIANNE, SOOOOOOON
Dianne777: ‹@quicktolegit96› brat lol
quicktolegit96: THEIR LIQUIDITY WILL ONLY TAKE THEM SO FAR...
whitelions: ‹@quicktolegit96› I'm betting on the higher side as Iraq is in competition with Kwait
quicktolegit96: WHITELIONS, I AGREE
OOTW: HERE'S A FLASHBACK ARTICLE FROM BUTIFLDRM
quicktolegit96: ESPECIALLY IF IRAQ WANTS TO BE THE MOTHERBOARD OF THE M.E.
OOTW: FLASHBACK ARTICLE Markets | Thu Apr 30, 2015 7:02am EDT Exclusive: Iraq seeks credit rating before jumbo bond issue DUBAI | BY HADEEL AL SAYEGH Iraq's Finance Minister Hoshiyar Zebari speaks during a news conference in Baghdad February 26, 2015. REUTERS/Khalid al-Mousily Iraq's Finance Minister Hoshiyar Zebari speaks during a news conference in Baghdad February 26, 2015.
REUTERS/KHALID AL-MOUSILY Iraq plans to obtain a sovereign credit rating and is approaching rating agencies as it prepares for a jumbo $5 billion bond issue needed to cover a budget deficit caused by low oil prices, its finance minister said on Thursday.
"We started the process," Hoshiyar Zebari told Reuters by telephone. "The banks are also trying to help us in that direction.” Iraq has said it will issue $5 billion of debt in its first international bond sale for nine years. Its need for cash is acute; the government has projected a budget deficit of about $25 billion this year, in a budget of roughly $100 billion.
Obtaining a credit rating from a major agency, which Iraq currently lacks, could help to persuade global fund managers and banks to subscribe to the issue. Zebari said Iraq was trying to approach two or three rating agencies, which he did not name.
It has been discussing its bond issue plan with Citibank and Deutsche Bank. The process of obtaining a credit rating could be a delicate one for Iraq, requiring it to open its books to the agencies and disclose new information on its finances. Zebari did not say when he expected the process to be completed.
Iraq's huge oil reserves in its southern fields, which have not been touched by the Islamic State insurgency, are expected to draw buyers to its bonds. But many fund managers think it would struggle to sell $5 billion in a short space of time, even with generous pricing. Asked if $5 billion was too ambitious, Zebari said:
"We have in the budget a commitment to issue $6 billion. So this is the low - this is how we plan to cover our deficit. But there’s no way we can do it in o
Dianne777: i just want them to do it, before the bottoom falls out
OOTW: But there’s no way we can do it in one tranche.” Iraq has an outstanding U.S. dollar bond maturing in 2028 462652AA6=; panic selling late last year as oil prices plunged pushed its yield to a record high of 10.49 percent from around 7.2 percent in September, but it has since dropped back to 8.04 percent. Iraqi five-year credit default swaps IQGV5YUSAC=MP, used to insure against any sovereign default, are at 539 basis points, near their highest levels since late 2009.
In addition to the international bond issue, Iraq has introduced or is planning other fiscal measures including a local currency bond issue to banks, taxes on some consumer goods and public wage cuts.
It has also been considering whether to ask for aid from the International Monetary Fund.
dwsdad: I got a question for the brain trust
whitelions: ‹@Dianne777› watch the laws none of this will happen untill the laws are passed BUT watching the news we are hot on top of getting the laws passed you can see it in the sol running scared
quicktolegit96: tman23: The Kurdistan Regional Government sells Kurdistan region and Kirkuk crude oil shares independently and will receive the money without going through Baghdad, said a Kurdish MP in the Iraqi Parliament on Wednesday.......
This is the beginning of the Iraq disintegration,” Abdullah said. KRG spokesperson Safin Dizayee told Rudaw that the decision was made to resolve the economic crisis that has stricken the Kurdistan region.
He added that the decision was necessary to pay government employees’ salaries on time. “The Turkish government has reassured the KRG that they would stick to the agreements with the KRG over Kurdistan’s independent oil sales,” Dizayee said…rudaw.net
(( Baghdad is no longer opposing and independent economic Kurdistan and they are not in opposition to independent oil sales ))
OOTW: ‹@quicktolegit96› AGREED
whitelions: ‹@quicktolegit96› do you have the link for that ? please
Dianne777: ‹@quicktolegit96› ‹@quicktolegit96› so the kurds have seperated
Dianne777: from bagdad
whitelions: ‹@Dianne777› that will never happen they have the lions share of the oil
quicktolegit96: LOOKS LIKE IT...NOT SURE YET
quicktolegit96: MAY JUST BE A THREAT OR PERHAPS SMOKE, NO SOLD ON IT YET
quicktolegit96: NOT SOLD ON THIS YET 100%
quicktolegit96: I JUST ASKED TMAN FOR A LINK, BRB
Donnie: I read a similar article earlier and Kurds are planning to sell their oil directly and then pay Baghdad their share from the sale AND start the process to separate which will take up to 2 years... NO I don't have the link so ignore this if you need a link.
quicktolegit96: DONNIE LOL
quicktolegit96: I READ SOMEWHERE THAT CEYHAN WAS SHUT OFF
Dianne777: what or where is ceyhan?
quicktolegit96: IN TURKEY
quicktolegit96: KRG DEALS WITH PIPELINE RUNNING FROM TURKEY TO BAGHDAD
OOTW: Kurdish Iraqi MP boasts KRG sells oil independently By RÛDAW yesterday at 07:20 The KRG ships crude oil to Ceyhan oil terminal in Turkey independently. Photo: Rudaw.
The KRG ships crude oil to Ceyhan oil terminal in Turkey independently. Photo: Rudaw. ERBIL, Kurdistan Region — The Kurdistan Regional Government sells Kurdistan region and Kirkuk crude oil shares independently and will receive the money without going through Baghdad, said a Kurdish MP in the Iraqi Parliament on Wednesday.
Arez Abdullah, chairman of the Iraqi Parliament's Oil and Gas Committee, told Rudaw that the KRG started exporting oil directly to world markets in July.
“This is the beginning of the Iraq disintegration,” Abdullah said. KRG spokesperson Safin Dizayee told Rudaw that the decision was made to resolve the economic crisis that has stricken the Kurdistan region. He added that the decision was necessary to pay government employees’ salaries on time.
“The Turkish government has reassured the KRG that they would stick to the agreements with the KRG over Kurdistan’s independent oil sales,” Dizayee said.
In the last oil sales report, the Kurdistan Ministry of Natural Resources said due to the long-standing budget impasse with Baghdad it was obliged to increase its independent crude oil sales in June.
quicktolegit96: WHERE DOES IT SHOW ON THAT SCREEN SHOT THAT THEY HAVE A "7"
OOTW: HANG ON I'M GETTING IT FOR YOU
quicktolegit96: TY DAWLIN
whitelions: The krds are asking for international loans but if you read all of the article it tells you that under the constitution they can barrow money up to a point , for me that is saying that they are not going anywhere
whitelions: A spokesman for the Kurdistan Regional Government Sven DziaKurdistan form a higher committee to negotiate international loan ....
A spokesman for the Kurdistan Regional Government Sven Dzia in a statement received (range Press), a copy of it, that "the Government of the Territory It announced Iraq's Kurdistan Regional Government, on Thursday, for the formation of a supreme committee to negotiate on access to international loans,
and as pointed out that the loans include the launch of securities on behalf of the region in global markets, stressed the importance of being these loans will enhance the site economic region in the world markets.... www.theiqdteamconnection....
OOTW: GOT IT QUICK?
OOTW: HANG ON
quicktolegit96: OOTW WHERE IS THE "7"
OOTW: HANG ON I CAN SEE IT ON MY PRINT SCREEN BUT CAN'T GET IT TO UPLOAD HERE
[01:36:15 PM] quicktolegit96: TY
OOTW: THATS IT
quicktolegit96: I SEE IT TY
Doug_W: Country risk code
MrDiagy: OOTW can you clarify why a-7 = A- credit rating
Comments may be made at the end of Part 2 Thank You